New Home Sales Rose 12.7% YOY in August

Washington, DC, September 26, 2018-Sales of new single-family houses in August 2018 were at a seasonally adjusted annual rate of 629,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 3.5% above the revised July rate of 608,000 and is 12.7% above the August 2017 estimate of 558,000.

The median sales price of new houses sold in August 2018 was $320,200. The average sales price was $388,400.

The seasonally-adjusted estimate of new houses for sale at the end of August was 318,000. This represents a supply of 6.1 months at the current sales rate.